Ebos shares push higher, Xero gains

Shares in medical equipment company Ebos pushed higher in early trading, adding to gains yesterday when Ebos announced a 20c a share special dividend at its annual meeting.

Accounting software provider Xero gained 6c early to $1.55, after announcing that San Francisco-based investor Peter Thiel had agreed to invest $4 million in the company to support its expansion into the US market.

Overall, the benchmark NZX-50 index lifted to its highest level in more than five months early today. Around 10.20am it was up 7.05 points to 3271.96, after gaining 21.9 points yesterday after strong earnings had lifted Wall Street and as China reported slower but still robust growth.

Ebos shares were up 5c early today to $7.10, after closing up 5c yesterday, while Fletcher Building added to its 8c gain of yesterday with a further 4c lift early today, taking it to $8.25.

Pike River Coal was up 3c to $1.05, Ryman added 2c to $2.12, Telecom was unchanged on $2.03, Nuplex slipped 2c to $3.31, and Restaurant Brands fell 3c to $2.60.

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In the US, equities edged higher in a volatile session, torn between strong corporate earnings and a surge in the US dollar.

"Companies are continuing to show that they are continuing to make money in a low nominal GDP environment and that they are very good at it and they can continue to do so," said Paul Zemsky, head of asset allocation at ING.

The Dow Jones industrial average gained 0.4 per cent to 11,146.57, the Standard & Poor's 500 Index gained 0.2 per cent to 1180.26, and the Nasdaq Composite Index gained 0.1 per cent to 2459.67.

- NZPA